Northern Oil and Gas (NYSE:NOG) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Northern Oil and Gas (NYSE:NOG) from a sell rating to a hold rating in a report released on Thursday morning.

Other analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a research report on Wednesday, February 28th. Raymond James dropped their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Piper Sandler upped their price target on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a neutral rating in a report on Friday, April 19th. Royal Bank of Canada restated an outperform rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Finally, Morgan Stanley upped their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of Moderate Buy and a consensus target price of $47.90.

Northern Oil and Gas Stock Up 0.7 %

NOG opened at $40.25 on Thursday. The firm has a 50 day moving average price of $39.61 and a 200 day moving average price of $37.34. The company has a market cap of $4.07 billion, a PE ratio of 6.52 and a beta of 1.84. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 0.96.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The firm had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The company’s revenue was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Sell-side analysts expect that Northern Oil and Gas will post 5.46 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Northern Oil and Gas by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after acquiring an additional 2,827,642 shares in the last quarter. Invesco Ltd. boosted its stake in Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after purchasing an additional 605,197 shares during the period. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 27.0% in the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares during the period. Capstone Investment Advisors LLC boosted its stake in Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after purchasing an additional 324,958 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.